1,873 Shares in Mr. Cooper Group Inc (NASDAQ:COOP) Purchased by Kestra Private Wealth Services LLC

Key Points

• Kestra Private Wealth Services LLC has acquired a new stake in MR. COOPER GROUP INC, purchasing 1,873 shares valued at approximately $224,000 in the first quarter.
• Recent analyst ratings for MR. COOPER GROUP show a mix of updates, with price targets raised by firms like Keefe, Bruyette & Woods and Piper Sandler, indicating a current consensus rating of "Hold".
• CEO Jesse K. Bray sold 30,000 shares of MR. COOPER GROUP at an average price of $152.14, reducing his ownership stake by 4.15% while still holding shares valued at over $105 million.

Kestra Private Wealth Services LLC bought a new position in Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,873 shares of the company's stock, valued at approximately $224,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of COOP. Commonwealth Equity Services LLC lifted its position in Mr. Cooper Group by 2.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 4,984 shares of the company's stock valued at $479,000 after buying an additional 128 shares in the last quarter. LPL Financial LLC lifted its position in Mr. Cooper Group by 3.3% during the fourth quarter. LPL Financial LLC now owns 14,957 shares of the company's stock valued at $1,436,000 after buying an additional 472 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Mr. Cooper Group by 15.5% during the fourth quarter. JPMorgan Chase & Co. now owns 644,159 shares of the company's stock valued at $61,846,000 after buying an additional 86,510 shares in the last quarter. Norges Bank acquired a new position in shares of Mr. Cooper Group during the fourth quarter worth $72,984,000. Finally, New Age Alpha Advisors LLC acquired a new position in shares of Mr. Cooper Group during the fourth quarter worth $926,000. 89.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on COOP shares. UBS Group reissued a "neutral" rating and set a $156.00 target price on shares of Mr. Cooper Group in a research report on Tuesday, July 15th. Keefe, Bruyette & Woods boosted their target price on shares of Mr. Cooper Group from $115.00 to $143.00 and gave the stock a "market perform" rating in a research report on Tuesday, April 8th. Piper Sandler boosted their target price on shares of Mr. Cooper Group from $143.00 to $158.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 1st. Barclays boosted their target price on shares of Mr. Cooper Group from $147.00 to $156.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Finally, Jefferies Financial Group boosted their target price on shares of Mr. Cooper Group from $110.00 to $150.00 and gave the stock a "hold" rating in a research report on Tuesday, July 22nd. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $137.88.

Insider Activity at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 30,000 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $152.14, for a total transaction of $4,564,200.00. Following the completion of the transaction, the chief executive officer owned 693,187 shares in the company, valued at approximately $105,461,470.18. This represents a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.73% of the company's stock.

Mr. Cooper Group Stock Up 13.5%

COOP stock traded up $21.04 during trading on Friday, hitting $176.76. 1,130,638 shares of the company's stock traded hands, compared to its average volume of 993,631. Mr. Cooper Group Inc has a 52 week low of $80.35 and a 52 week high of $180.20. The stock has a fifty day moving average price of $145.86 and a two-hundred day moving average price of $123.52. The stock has a market capitalization of $11.31 billion, a price-to-earnings ratio of 20.40 and a beta of 1.05.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $3.13 EPS for the quarter, missing the consensus estimate of $3.28 by ($0.15). The firm had revenue of $608.00 million for the quarter, compared to the consensus estimate of $669.23 million. Mr. Cooper Group had a return on equity of 15.66% and a net margin of 25.38%. The firm's revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.10 EPS. As a group, equities research analysts expect that Mr. Cooper Group Inc will post 13.17 EPS for the current fiscal year.

About Mr. Cooper Group

Mr. Cooper Group Inc, together with its subsidiaries, operates as a non-bank servicer of residential mortgage loans in the United States. The company operates through Servicing and Originations segments. The Servicing segment performs activities on behalf of investors or owners of the underlying mortgages and mortgage servicing rights, including collecting and disbursing borrower payments, investor reporting, customer service, modifying loans, performing collections, foreclosures, and the sale of real estate owned.